Point72 Asset Management L.P. Lowers Stake in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Point72 Asset Management L.P. cut its position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 9.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 190,588 shares of the construction company’s stock after selling 19,600 shares during the quarter. Point72 Asset Management L.P. owned about 0.63% of Gibraltar Industries worth $11,226,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ROCK. Barclays PLC raised its stake in shares of Gibraltar Industries by 93.8% in the 3rd quarter. Barclays PLC now owns 103,324 shares of the construction company’s stock valued at $7,226,000 after acquiring an additional 50,017 shares during the period. Park Avenue Securities LLC increased its holdings in Gibraltar Industries by 12.8% in the 4th quarter. Park Avenue Securities LLC now owns 3,603 shares of the construction company’s stock valued at $212,000 after purchasing an additional 410 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in Gibraltar Industries in the 4th quarter valued at $1,727,000. SG Americas Securities LLC purchased a new position in Gibraltar Industries in the fourth quarter valued at about $117,000. Finally, Inspire Investing LLC lifted its stake in shares of Gibraltar Industries by 15.3% during the fourth quarter. Inspire Investing LLC now owns 6,785 shares of the construction company’s stock worth $400,000 after purchasing an additional 901 shares in the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Gibraltar Industries Stock Up 2.1%

Shares of NASDAQ:ROCK opened at $62.50 on Monday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 13.98 and a beta of 1.30. The company has a 50 day moving average of $57.43 and a two-hundred day moving average of $62.16. Gibraltar Industries, Inc. has a 52-week low of $48.96 and a 52-week high of $81.90.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The business had revenue of $290.02 million during the quarter, compared to analyst estimates of $296.77 million. During the same period last year, the business earned $0.80 EPS. The business’s revenue was down .9% on a year-over-year basis. On average, equities analysts anticipate that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current year.

Insider Activity

In related news, Director James B. Nish sold 2,670 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $57.58, for a total value of $153,738.60. Following the transaction, the director now owns 13,148 shares in the company, valued at approximately $757,061.84. The trade was a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Gibraltar Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th.

About Gibraltar Industries

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.